The International Monetary Fund (IMF) revised its previous forecast of a 2.6% growth in the Spanish economy this year to ‚at least‘ 3.1%.<\/p>\n
The revised figure reflects a period of strong consumption, investment and exports in Spain that has helped sustain a smooth economic recovery for the country.<\/p>\n
The world banking institution predicts that Spain’s gross domestic product will surpass pre-crisis levels in the second quarter of this year, growing more than 3.1% if the momentum from recent reforms accelerates at the expected pace.<\/p>\n
Reforms include a restructured banking sector and adjusted labor laws that were put in place several years ago in an attempt to boost growth when Spain plunged into a recession shortly after the property bubble burst in 2008.<\/p>\n
Along with the adjusted figure, the IMF called on Spanish authorities to capitalise on this period of robust economic growth by focusing on reducing public debt, which remains at a high 100% of GDP.<\/p>\n
The report also reinforced the need to address youth and long-term unemployment rates, which are also still among the highest in Europe, because many roles remain temporary or part-time.<\/p>\n
Nevertheless, thousands of new jobs are being created as the economy heals and Spain continues on a steady trajectory towards a full recovery with plenty of lucrative investment opportunities on offer.<\/p>\n","protected":false},"excerpt":{"rendered":"
The International Monetary Fund (IMF) revised its previous forecast of a 2.6% growth in the Spanish economy this year to ‚at least‘ 3.1%. The revised figure reflects a period of strong consumption, investment and exports in Spain that has helped sustain a smooth economic recovery for the country. The world banking institution predicts that Spain’s […]<\/p>\n","protected":false},"author":2,"featured_media":18666,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[741],"tags":[],"class_list":["post-18545","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\n